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Global Acetonitrile Market size is projected to grow significantly over 2023-2032, attributed to the rising adoption of the compound in the pharmaceutical industry, predominantly as a solvent, to cast and mold plastic materials, and extract fatty acids from animals and vegetable oils.
Acetonitrile refers to a chemical compound, colorless liquid, and organic nitrile that is mainly used as a polar aprotic solvent in the organic synthesis and purification of butadiene. The compound is also adopted as a medium-polarity solvent in laboratories, has a convenient liquid range and is miscible with water. Escalating usage of acetonitrile in the development of personal care and cosmetic products, will also boost acetonitrile extraction activities in the upcoming years.
Additionally, the rapid expansion of the pharmaceutical and petrochemical industries is one of the major trends strengthening the overall acetonitrile market outlook through 2032. Acetonitrile grades are widely used in extractive distillation and separation of C4-hydrocarbons and olefin-diolefin mixtures across the petrochemical sector. However, the volatility in its supply, along with its relatively poor environmental profile, has asserted a negative influence on its use across laboratories and manufacturing processes over the past years.
The local upheaval caused by the outbreak of the Russia-Ukraine war is bound to have an impact on crude oil, natural gas, and other energy and chemical exports. As the impact of covid-19 pandemic still persists, the prospects for global economic recovery remain hazy, with many factors competing for attention. Additionally, China's energy and chemical industries are suffering, which may put additional pressure on acetonitrile market growth.
The acetonitrile industry is classified into derivative and solvent segments. The solvent segment projected to expand significantly due to its increasing application in the production of pharmaceuticals and photographic film. Furthermore, the increasing use of acetonitrile as a solvent in the manufacturing of rubber products, fragrances, insecticides, acrylic nail removers, and batteries will provide growth opportunities from 2023 to 2032.
The acetonitrile market share from the agrochemicals segment will register considerable revenue by 2032. This can be credited to the increasing adoption of acetonitrile acid in laboratories to detect a variety of materials such as pesticide residues. The segmental growth is also due to the sharp uptake of agrochemicals in the agricultural sector and the healthy exports activities.
Asia Pacific acetonitrile industry is poised to depict a high growth rate through 2032, attributed to the anticipated increase in sowing and the seamless availability of fertilizers and pesticides in developing economies, despite a rapid surge in coronavirus infection. Furthermore, a commendable increase in the supply of pharmaceutical products from the regional market will further augment the need for acetonitrile across these end-use industries.
Global acetonitrile market key players include Filo Chemical, NeuChem, Continental Industries Group, Achemica, GFS Inc., Sterling Chemicals, DuPont, Asahi Kasei Medical Company Limited, Nova Molecular Technologies, BP Chemicals, AlzChem AG, Purification Technologies, Inc., J.T. Baker Chemicals, INEOS, Imperial Chemical Corporation, Honeywell International Inc., Avantor Performance Materials, and AnQore, among others.
To strengthen their international market share, these companies are focused on initiatives such as new product launches, corporate expansions, mergers, and acquisitions. For instance, in April 2022, INEOS Nitriles, the world's largest producer of acetonitrile, announced its plans to invest in a world-scale acetonitrile manufacturing plant at its primary operational location in Köln, Germany.